Regulatory Reduction Act of 1980

Regulatory Reduction Act of 1980 - Requires the President to submit a plan concerning the reorganization of specified agencies to Congress, the Speaker of the House of Representatives, and the President pro tempore of the Senate by April thirtieth of every fourth year after enactment of this Act. Requires that the plan include the following information with respect to each agency: (1) recommendations for the transfer, modification, or elimination of functions; (2) recommendations for organizational reforms; (3) recommendations for the modification, establishment, or abolition of regulations or agencies; (4) recommendations regarding agency jurisdiction; (5) recommendations for increasing economic competition; and (6) recommendations for returning agency functions to the private sector. Declares that the plan also shall include a report on the cumulative impact of all Government regulation on the general economy and specific industry groupings.

Directs the committees of Congress having jurisdiction over an agency to prepare such a plan for that agency if (1) the President fails to submit a plan concerning that agency by May first, or (2) the President's plan is inadequate.

Requires the President's plan to be referred to specified committees of Congress. Directs the committees to review the plan and report a bill approving or disapproving it. Requires that such bill become the pending business in both Houses of Congress by May first of the following year.

Declares that if no comprehensive regulatory reduction legislation pertaining to an agency is enacted by August of the year after the plan for that agency is submitted, the agency shall have no authority to issue or enforce any new regulations that are not essential for public health and safety. Terminates any agency for which such legislation is not enacted by the last day of the calendar year after the year in which such plan is required to be submitted.